Investing in real estate property is a big commitment. You and your investors are now responsible for the structure, surrounding land and any changes made to the property.
It’s normal to want to update your building if it’s in need of a facelift. You’re going to want to rent it out and the tenants will want it to look nice. Keep it simple and provide a solid base for letting them add to your choices in design and décor. There’s no need for lots of fuss and complicated decisions. See how to decorate your investment property with a minimalist framework.
Deciding to Make Changes
Don’t begin any work until you understand the laws. Under the delaware statutory trust, each investor holds title to the real estate through a beneficial interest in the trust. The DST structure is completely passive. All major property decisions are made by the trustee of the trust and the asset manager, rather than by vote of the Tenant-In-Common owners. Make sure you go through the proper procedures required before you begin any work on the property. This is a very important step so you don’t break any of the rules or laws while making updates.
Less is More
Approach your design and décor with the mindset that less is more. Stay away from clutter and adding and building in areas that don’t need it. Look around and eliminate what can go. Clear any clutter and get rid of unnecessary items or structures within the building. Organize and make a pile of items that can be stored or donated. Simplify and clear all surfaces so it looks nice and neat to anyone wanting to rent. Look to remove, instead of continuing to add and build.
Keep it simple and provide a neutral base to work with. Paint the walls and trim in soft hues. It’ll give the place a clean, crisp and fresh vibe when you enter the room. Open up the space by adding natural light wherever possible and letting it reflect on the neutral foundation. It’ll feel warm and peaceful this way. If you want to introduce color, keep to earthy tones in greens and blues. Delivering a neutral base will make it easier for your tenants to picture themselves living there and decorating. It’s an attractive look that’s inviting and opens up the rooms.
Quality over Quantity
Focus on quality over quantity when you’re updating and decorating. Pick attractive and higher-end items like a light fixture or vanity. You don’t need to add or buy more than what’s necessary for making the place look put together. Consider each piece carefully before you bring it into a room. It’s better to pick out each item carefully, then buy a bunch of pieces you don’t really need.
Buying a property requires a lot of work. It’s smart to keep it simple and clean so it not only looks presentable, but attractive to potential renters. This is how to decorate your investment property with a minimalist framework.
James Daniels is a freelance writer, business enthusiast, a bit of a tech buff, and an overall geek. He is also an avid reader, who can while away hours reading and knowing about the latest gadgets and tech, whilst offering views and opinions on these topics.